When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had resigned within a month. Cyprus, where banks reopened on Thursday after being closed for nearly two weeks, has …
Sevier County, Tennessee authorities estimate the loss in a wildfire earlier this month at about $12 million. The Mountain Press reported the figure includes only the value of the cabins destroyed or damaged in the March 17 fire at Black …
A Christians-only health care plan would be allowed to resume operations in Kentucky under a measure that has passed the Legislature and is on the way to Gov. Steve Beshear for consideration. The Senate passed the measure 38-0, after it …
If the U.S. Supreme Court strikes down a federal law defining marriage as between a man and woman, the newfound rights for gay married couples may bear something not so welcome – a bigger tax burden. That’s because with equality, …
The U.S. Internal Revenue Service this week lost a request to prevent the partial shutdown of its tax return preparer regulatory program pending an appeal. In a one-page ruling, the U.S. Court of Appeals for the District of Columbia on …
U.S. insurance regulators will continue a program of information sharing and cooperation that helps their counterparts in China learn about insurance regulatory practices in the U.S. The National Association of Insurance Commissioners (NAIC) said it has signed a Memorandum of …
A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Australia’s Ansvar Insurance Limited, both with stable outlooks. The rating affirmations reflect Ansvar’s “strong risk-adjusted capitalization, initiatives to de-risk its …
A.M. Best Europe – Rating Services Limited has commented on the recent announcement from Germany’s Allianz SE that it is entering into a long-term partnership with Turkey’s Yapi Kredi and is acquiring Yapi Kredi Sigorta. Allianz SE currently has a …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited, and has also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and ICRs …
Catastrophe modeling firm AIR Worldwide reports that a “magnitude 6.0 earthquake struck central Taiwan on March 27, 2013, at 10:03 a.m. local time (02:03:20 UTC). With its epicenter located at 23.840° North latitude and 121.135° East longitude, according to USGS, …
